Yesterday’s big slide did some damage to the short-term moving averages and today we have the 10-day moving average dipping below the 21-day average, a closely watched combination. Short-term models may turn bearish at 14:00 GMT when many reset for the day.
EUR/USD trades with a heavier tone than one would expect given the upbeat ZEW data earlier today, changing hands now at 1.4106.
